Alok Industries, the Rs 2,200-crore Mumbai-based textile firm, has resumed talks with private equity players to dilute about 20% equity it owns in its unlisted unit, Alok Infrastructure. A realty company, Alok Infrastructure has been looking at options to raise around Rs 600 crore for developing its large land bank, said sources. Alok Industries plans to sell part of its stake in its realty unit to 3-4 private equity firms by August end. The company’s chief financial officer Sunil Khandelwal is currently in the UK for negotiations on this issue. They are working out different options and strategies for there realty venture. Alok Industries had initiated talks with private equity firms in October last year, but had to discontinue after crashes in the stock markets led to a steep correction in valuations. According to analysts, Alok could be looking at increasing the valuation of the realty company through a private equity deal and subsequently list it. Alok Infrastructure plans to invest large amounts in real estate development and is also developing over one hundred eighty acres in its textile SEZ in Silvassa. It has already acquired two hundred twenty acres at Silvassa. The company has also acquired one hundred thirty acres at Panvel at the rate of twenty five lakh rupees per acre in a 50-50 joint venture. According to India Real Estate sector report Global Research, the Indian real estate market is expected to grow at a CAGR of 20 percent, driven by an 18-19 percent growth in residential real estate, 55-60 percent in retail real estate, and 20-22 percent in commercial real estate, over the next five years